Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kennametal Inc. (NYSE:KMT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 165,088 shares of the industrial products company's stock, valued at approximately $5,786,000. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Kennametal at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Kennametal by 17.7% during the first quarter. Royal Bank of Canada now owns 30,474 shares of the industrial products company's stock valued at $649,000 after purchasing an additional 4,578 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kennametal by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,307 shares of the industrial products company's stock worth $986,000 after buying an additional 2,013 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Kennametal by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 240,556 shares of the industrial products company's stock valued at $5,124,000 after purchasing an additional 28,020 shares in the last quarter. Jane Street Group LLC grew its position in shares of Kennametal by 39.3% in the 1st quarter. Jane Street Group LLC now owns 229,903 shares of the industrial products company's stock worth $4,897,000 after buying an additional 64,907 shares during the period. Finally, Norges Bank purchased a new stake in Kennametal in the second quarter worth about $585,000.
Kennametal Trading Up 0.5%
Shares of NYSE:KMT opened at $30.17 on Friday. The company has a market cap of $2.30 billion, a P/E ratio of 6.86, a PEG ratio of 0.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.62 and a quick ratio of 0.98. Kennametal Inc. has a 1 year low of $20.35 and a 1 year high of $43.81. The stock's fifty day moving average price is $33.33 and its 200-day moving average price is $35.88.
Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.31 by $0.65. Kennametal had a return on equity of 24.83% and a net margin of 14.53%.The company had revenue of $736.61 million for the quarter, compared to analysts' expectations of $725.74 million. During the same period last year, the firm posted $0.34 earnings per share. Kennametal's revenue was up 42.6% compared to the same quarter last year. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. Sell-side analysts expect that Kennametal Inc. will post 4.82 earnings per share for the current year.
Kennametal Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Kennametal's dividend payout ratio is currently 18.18%.
Analyst Upgrades and Downgrades
KMT has been the subject of several analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Kennametal in a report on Monday, August 17th. Barclays cut shares of Kennametal from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $40.00 to $33.00 in a research note on Wednesday, May 27th. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and set a $47.50 price objective on the stock. in a research report on Thursday, May 7th. Morgan Stanley downgraded shares of Kennametal from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $31.00 to $27.00 in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kennametal from $40.00 to $34.00 and set an "underweight" rating on the stock in a report on Monday, July 13th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $34.07.
Get Our Latest Research Report on KMT
Insider Transactions at Kennametal
In other Kennametal news, Director Sagar A. Patel sold 29,499 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $33.50, for a total value of $988,216.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Judith L. Bacchus sold 5,488 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $35.94, for a total transaction of $197,238.72. Following the completion of the sale, the vice president directly owned 4,554 shares of the company's stock, valued at $163,670.76. This represents a 54.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,000 shares of company stock worth $1,583,326 in the last quarter. Company insiders own 1.43% of the company's stock.
Kennametal Company Profile
(
Free Report)
Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.
The company's product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.
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